Washington Today (11-2-22): Fed hikes interest rates again, says pace of future increases may slow

By | November 2, 2022

Interview with MarketWatch’s Greg Robb on Fed Chair Powell announcing another interest rate increase (5), President Biden giving speech on political violence, State Dept on North Korea firing ballistic missiles and Russia rejoining Ukraine grain export agreement.

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Foreign Welcome to Washington today on C-Span Radio for Wednesday November 2nd 2022 The Federal Reserve chair Jerome Powell Announcing another large increase in Interest rates three quarters of a Percentage point and a continuing effort To bring down high inflation he says That rates ultimately may need to go Higher than previously expected but There may come a time to slow the pace Of the hikes coming up we’ll hear from The Fed chair and talk with MarketWatch Senior reporter Greg Robb Wall Street Reaction the Dow Jones industrial Average closing down over 500 points Under a week until election day President Joe Biden giving a speech on Political violence and the White House Says how those who deny the validity of Election results are threatening Democracy itself North Korea firing almost two dozen Ballistic missiles and a protest of U.S South Korean military exercises will get State Department reaction also reaction From the state department about Russia Rejoining the agreement to allow safe Passage of ships from Ukrainian ports Carrying grain And in Israel former prime minister Benjamin Netanyahu about to make a Comeback leading a right-leaning Coalition to Victory

And now to the Federal Reserve raising Its Benchmark interest rate once again By three quarters of a point interest Rates now at the highest level in 15 Years Associated Press reporting it was A central bank’s sixth rate hike this Year a streak that has made mortgages And other consumer and business loans Increasingly expensive and heighten the Risk of a recession Federal Reserve chair Jerome Powell According to AP hinted that it could Soon reduce the size of its rate hikes The fed’s monetary policy actions are Guided by our mandate to promote maximum Employment and stable prices for the American people My colleagues and I are acutely aware That high inflation imposes significant Hardship it is as it erodes purchasing Power especially for those least able to Meet the higher costs of Essentials like Food housing and transportation We are highly attentive to the risks That high inflation pods poses to both Sides of our mandate and we’re strongly Committed to returning inflation to our Two percent objective At today’s meeting the committee raised The target range for the federal funds Rate by 75 basis points And we are continuing the process of Significantly reducing the size of our Balance sheet which plays an important

Role in firming The Stance of monetary Policy With today’s action we’ve raised Interest rates by three and three Quarters percentage points this year We anticipate that ongoing increases in The target range for the federal funds Rate will be appropriate in order to Attain a stance of monetary policy that Is sufficiently restrictive to return Inflation to two percent over time Financial conditions have tightened Significantly in response to our policy Actions and we are seeing the effects on Demand in the most interest rate Sensitive sectors of the economy such as Housing It will take time however for the full Effects of monetary restraint to be Realized especially on inflation That’s why we say in our statement that Determining the pace of future increases In the target range we will take into Account the cumulative tightening of Monetary policy and the lags with which Monetary policy affects the economic Activity and inflation At some point As I’ve said in the last two press Conferences it will become appropriate To slow the pace of increases as we Approach the level of interest rates That will be sufficiently restrictive to Bring inflation down to our two percent

Goal There is significant uncertainty around That level of interest rates Even so we still have some ways to go And incoming data since our last meeting Suggests that the ultimate level of Interest rates will be higher than Previously expected Our decisions will depend on the Totality of incoming data and their Implications for the outlook for Economic activity and inflation We will continue to make our decisions Meeting by meeting and communicate our Thinking as clearly as possible We’re taking forceful steps to moderate Demand so that it comes into better Alignment with Supply our overarching Focus is using our tools to bring Inflation back down to our two percent Goal and to keep longer term inflation Expectations well anchored Reducing inflation is likely likely to Require a sustained period of below Trend growth and some softening of labor Market conditions Restoring price stability is essential To set the stage for achieving maximum Employment and stable prices in the Longer run The historical record cautioned strongly Against prematurely loosening policy we Will stay the course until the job is Done

The Federal Reserve chair Jerome Powell Part of his news conference today Greg Graub MarketWatch senior reporter was in The room and joined us now by phone Thank you so much for doing this you Write the chair Powell giving some Details today about how high interest Rates may go eventually and how fast we Will be getting there fill that in for Us please Sure the FED raised rates 75 basis Points now to a Range close to four Percent This is that’s a really super fast pace Of hikes and the FED chairman spent a Lot of time today talking about Slowing down that pace Soon maybe in December maybe in January But at the same time with he said that With one hand but the other hand he said That rates are going to have to go Higher And the FED had thought only a couple of Months ago so they thought they were Going to get to around four and a half And then stop but now we look like five Is the number that everybody has in mind So it’s a little bit higher And but a little bit slower That was the message you know Complicated stuff not the easiest to Understand but they they still haven’t Really brought inflationed out and They’re going to try to keep at it

You also write in your article at Marketwatch.com for the first time the Central Bank signaled it would watch Closely whether rapidly Rising borrowing Costs might damage the economy owing to The usual lag and how higher rates slow Growth Why is this the the first time they’ll Be doing that Well in March they the FED had rape Interest rates were at zero and they Inflation was kind of roaring ahead and The FED knew that they had to kind of Jump on it and they’ve been they they’ve Brought rates up really quickly to close To four percent today And economists know that this stuff the Fed rate hikes kind of don’t hit the Mark hit the economy all at once they Kind of hit with a lag so that’s like a Like a whip or something So that Economists and a lot of people outside The former state of people really wanted The FED to kind of acknowledge that they Hadn’t so far why they hadn’t so far is Because they were sort of on a race to Get them higher so they’ve gotten to This level now where they can at least Begin talking about The fact that they’re going to slow down Eventually Um because if if you do it all really Quickly and you don’t pay attention

Things can things can break and that’s What people were really worried about so The FED today said try to say to the Market I guess I think one of the Messages was like listen We’re not gonna We’re not in this china shop I’m gonna Break things we’re just going to try to Get rates up because we feel like we Need to do it And I think that Mark that’s a good Message for the market but the market Also didn’t like the fact that they said They said they had to go higher kind of Killed the Explore the party You also write about how the the stock Market was reacting in real time it went Up during the opening statement and it Went down during the Q a period what was Going on there Well this is we’re in this world where The all eyes are on the fed and and Chairman Powell I mean He is really in a you have to think About this on the global stage the FED Is the central almost the Central Bank Of the world everybody’s watching them And the markets have just been moving With Every word he says so the the market Interpreted this statement as Saying that the Fed was kind of slow at Some point And then it was only in the press

Conference later that Powell said we’re Going to have to go a little bit higher Some people said statement dovish pow Hawkish it’s a little bit Elementary but There was that kind of movement in the Market We’re talking with Greg Robb from market Watch Fed chair Jerome Powell is saying Today that interest rates to get Inflation down will require a softening Of the labor market will will end up Causing that there was a report out this Week that shows there are a lot of job Openings in the United States the how Far do we need to go according to to him He thinks that the labor market he used The word a couple of times today he said That labor market is overheated and that Means that it’s going so well that you Know there’s going to be a problem down The road that’s a tough message for Democrats tough message for anybody Because it seems like we’ve had this Labor market that we have we’ve been Wanting since 2008 we’ve been wanting a Labor market where like people could get Jobs and kind of move without Move jobs and kind of have some sort of Power with their bosses and negotiating What they were going to do at work So Um the message that Pals done today is That that’s got that’s a it’s kind of he Tried to make this like court it’s a

Tough message and he’s like he likes all The things of it happening but maybe It’s been happening a little bit too Fast and they can just slow down a Little bit But right now you know the economy the The labor market when you look on its Face it looks like uh it looks like a Mercedes-Benz brand new Mercedes-Benz Looks really nice so when the fact that He wants to like slow it down to like a 2014 Toyota that’s a little bit Adventist for everyone Greg Robb is a senior reporter with Market watch you can find his stories at Marketwatch.com and on Twitter at G Rob2000 thank you so much My pleasure thanks for having me the President of the AFL-CIO Liz Schuler Putting out a statement opposing today’s Rate hike by the Federal Reserve saying That the FED seems determined to raise Interest rates though it openly admits Those rates could ruin our current Economy as unemployment remains low and People are able to find jobs the fed’s Actions will not address the underlying Causes of inflation the war in Ukraine Climate changes effect on harvests and Corporate profits and an increase in the Chances that the United States enters a Recession also the Mortgage Bankers Association releasing data today that Shows that mortgage rates dipped

Slightly last week for the first time in More than two months to 7.06 percent Down from 7.16 a week earlier but still First time it’s over seven percent in a Couple of decades On Wall Street the Dow down today 505 NASDAQ down 366 s p down 96. economy And inflation usually the first Topic in Election debates this year c-spin has Been covering many of the debates at the Federal and state levels WMUR TV Reporting in New Hampshire a week before Election day the candidates for Governor Of New Hampshire met on the debate stage Tuesday night clashing on abortion Rights energy policy and other top Issues in the race Republican Governor Chris Nunu seeking a fourth term in Office and often touted his record in Office but Democratic Challenger Dr Tom Sherman said it’s time for a change the Early minutes of the debate focused on High energy prices a growing concern for Granite Staters as winter nears that From WMUR which sponsored the debate Here’s an exchange about energy Right now the price of a gallon of Residential Heating Oil is 5.68 that’s 82 percent more expensive Than it was this time last year natural Gas prices are also up as we enter what Will be the coldest months of the year What specifically needs to change that You as Governor would have power over to

Make sure Granite Staters don’t have to Worry about heating their homes Dr Sherman to you first thank you for the Question it’s clear that we could have Been in much better place than we are Right now had Governor sununu actually Encourage what we need in terms of Renewables in terms of efficiencies in Terms of re of weatherization Unfortunately he did not And not only are we facing issues of Doubling of our Energy prices but the CEO of Of eversource actually has come out in The last week and said we may not have Enough supplies nationally or regionally To heat our our homes to actually Provide the energy that we need Had we done this four years ago we could Have been ahead of the game he’s calling For us to have more Renewables we could Have had those Renewables much further Down the road than right now that delay Is costing Granite Staters they’re Paying the price for governor sununu News vetoes and first blocking that Intervention Governor soon what specifically that you Would have power over as Governor needs To change to make sure Granite Seekers Don’t have to worry about it look let’s Understand uh this hurts it really hurts Everyone’s feeling it oil prices it Started with gas prices about 18 months

Ago then it came to fuel oil prices the Cost of your groceries at the store Inflation is real bad policies out of Washington have real consequence on Individuals and it’s hurting everyone And even as Tom just said it’s a Regional national issue you’re seeing These price spikes everywhere Electricity is now even higher in Massachusetts than it is here you have To make the transition to Renewables we Signed in that metering Bill we promote Uh solar you know on on low-income Families apartment buildings or uh on Folks with fixed incomes so that they Get the benefit the first at the trough For the economic benefit while we all Get the environmental benefit we’re Promoting offshore wind I’m a big Believer in Hydro you know it was the Democrats that killed northern pass that Was 1200 megawatts of the cheapest Renewable Hydro hydropower in the Country but at the end of the day you Need a transition we need natural gas we Need those fossil fuels to while we we Make that transition over the next 10 or 20 years All or Nothing doesn’t work and Unfortunately the whole country is Feeling the pain Governor Johnson new Republican running for re-election Against Democratic Challenger Dr Tom Sherman New Hampshire gubernatorial Debate from Tuesday night in Manchester

Sponsored by Wmurtv the Biden Administration Announcing today 13 billion dollars to Provide winter heating assistance for Low-income Americans four and a half Billion through LIHEAP the low energy Home energy assistance program nine Billion for Energy Efficiency upgrades The money coming from the inflation Production act the big spending and tax Bill that President Biden signed into Law this past summer President Biden giving a campaign speech Tonight on Capitol Hill focusing on According to the Democratic National Committee which is organizing the event The threat of election deniers and those Who seek to undermine faith in voting And democracy the White House Press Secretary Kareem John Pierre asked this Afternoon what role the last week’s Brutal attack on the husband of house Speaker Nancy Pelosi played in the Decision to make the speech now Degree could you characterize how much The Pelosi attack influenced the President’s decision to give this Address tonight how much of a catalyst Is that and kind of as a related Question has the president made any Personal Outreach or considered making Personal Outreach to Republican leaders To ask them for a more forceful response To condemn that attack other violence I

Understand the power of the bully pulpit Tonight but has he done any direct Contact to Republican leaders and I Appreciate your question and I Understand your question I’m going to Start with the last one first It should not be controversial to speak Out against political violence uh it Should be something as political as Political leaders should automatically Do in a forceful way and you all have Reported on what happened uh to Paul Pelosi and how horrific it was and how Devastating it was and how dangerous uh That action was uh and the rhetoric that We’re seeing that rise of rhetoric that We are seeing uh you know you have People out there who listen and who take That rhetoric very seriously and so the President believes that it shouldn’t Have to he he shouldn’t have to call Them to say hey you need to condemn Condemn what happened a little more Forcefully that is something that it Should just be something that’s Automatic and they should just do that Look the president again is making the Speech because we’re seeing an alarming Number of Republican Republican Officials who are saying they’re being Very clear they’re not going to accept The results of these elections that’s a Problem and yes when we see what Happened to Paul Pelosi and again the

President spoke you all know you’ve Heard you’ve heard us you’ve heard us Say this the spread and spoke to the Speaker on Friday he spoke very Forcefully at his event Friday after Friday evening he spoke to this again on Saturday and just yesterday in Florida He spoke in front in front of a lot of Floridians about this this attack and so Uh look he he’s going to continue to Call this out what we’re seeing is is a Attack on our democracy and the President has been very clear we need to Protect our democracy we need to Strengthen our democracy and he feels it Is important as the President of the United States to continue to speak to This the White House Press Secretary Kareem Jean-Pierre with reporters in the White House briefing room at Politico.com there’s this Donald Trump’s Attorney saw a direct appeal to Supreme Court Justice Clarence Thomas as their Best hope of derailing Joe Biden’s win In the 2020 presidential election According to emails newly disclosed to Congressional investigators At the Supreme Court today abortion Rights protesters interrupting an oral Argument several women rising to speak Against the high Court’s decision Earlier this year in the Dobbs case that Overturned Roe v Wade which had Guaranteed constitutional protections

For abortion CNN reports that the first Woman saying I respectfully rise to Denounce Dobbs women vote another woman Then Rose to say the right to choose Will not be taken away women vote for Your right to choose and then a third Woman shortly thereafter we will restore Our right to choose women of America Vote all three women LED out of the Courtroom none of the Justice responded Or acknowledged the protesters according To CNN the Supreme Court was hearing a Case on on this Bank secrecy act Completely different subject here’s a Few seconds of what happened Because there’s no independent duty to Report each account there is no Independent violation every time an Account is not reported according [Music] According to the government petitioner Violated the ACT 272 times for Unintentionally failing to file five Annual forms part of the Supreme Court Oral argument today the Supreme Court Now reopened to the public to allow them To come in and sit in on the cases it Had been closed for a couple of years Due to the covid-19 pandemic USA Today Reporter John fritzi writes that such Interruptions are rare but they do Happen occasionally in 2015 a group of Protesters interrupted arguments over an Earlier campaign Finance ruling

Climate change also a big issue for many Democratic leaning voters this year the U.N climate change Summit called cop 27 Begins this coming weekend in Egypt and Today the U.S Special presidential Envoy For climate John Kerry with a preview in The state department briefing room one Of the reporters questions dealing with Something called damage and loss it’s a Shorthand for how developed countries Which have burned a lot of fossil fuels Over the decades might compensate Developing countries who have suffered Effects of climate change like drought Storms and rising sea levels I just had a very good conversation with The prime minister of uh Barbados and And we had a Deep discussion I think we found a lot Of agreement on where we’re heading and What we have to do here We need Uh to come together all of us to Recognize that not enough is happening Even though I’ve cited an enormous Amount of things that are happening It is not enough to be able to on its Own achieve our goals Particularly without a number of other Countries being at the table and raising Their ambition uh similarly So We are anxious to see the loss and Damage issue dealt with up front and re

In a real way at the cop we anticipate That uh It will be an agenda item and we’re Perfectly comfortable helping it to be That which means at some point you’ve Got to have an outcome and and we Anticipate trying to work towards that Outcome according to what we decided in Glasgow that would be over the course of A two-year period but maybe it could be Done faster we’re not sure I think we Have to get there and have the Conversation and we certainly support Coming out with some kind of structure That provides for Appropriate Financial Arrangements which We hope to arrive at so we have to get There and we’ll work in good faith to do That With respect to Uh and and let me just say I I think we Are anxious To do this in a very Cooperative Non-confrontational way we don’t feel That this has to be an issue that’s you Know sort of pounded at people because We agree As do almost all nations now that much More has to happen faster And we have to find more money to put Into the system in order to deploy the Technologies and help the countries be Able to do what they need to do to meet The challenge so I think you’re going to

See some Impactful and important Initiatives in order to try to help Provide that Finance one example would Be the MDB reform we can’t talk about it Anymore we have to do it and we’re the Largest shareholder in the United States I know President Biden is seized by this Issue uh I know that secretary Yellen is Twice given three major speeches on it And most recently raised it at the fall Meetings of the development Banks and I Think we’re very very committed to Trying to get that reform in place Because that will significantly increase The amount of available Concessionary money and low interest Money that can leverage the kind of Deployment of the technologies that we Need John Kerry is U.S Special presidential Envoy for climate speaking with Reporters in the state department Briefing room today in Washington ahead Of the cop Conference of the parties cop 27 the 27th meeting of this United Nations climate Summit and it’s happening starting this Weekend in Egypt and John Kerry also Announcing that Mexican president Andres Manuel Lopez obrador will be making a Major announcement on his country’s Climate commitments at this cop Governor of Arkansas ASA Hutchinson a

Republican also asked about climate Change today he was at the Wilson Center A forum on how U.S foreign policy Relates to State specific agendas Arkansas solar energy is in our mix we Have nuclear energy we have Hydro power As well and of course we have uh Traditional coal but most of the Companies are switching to gas which Still has a footprint but there is a Gradual shift in making sure that we can Have a diversity of energy sources in Our state Um You know in terms of where we are though As a nation Uh I think we’ll continue down the path Of of carbon reduction and making sure That we can guard against dramatic Climate change and do our share of this Responsibility But what has happened uh from the war in Ukraine was a wake-up call to Europe it Was a wake-up call the United States and We cannot uh go so far overboard into Dramatic changes in our energy Production that jeopardizes our security Now And not only do we need to be energy Independent in the United States of America we’ve got to produce enough Energy for ourselves we need to produce Energy for our allies so they don’t have To rely on Russia or we don’t have to go

To Venezuela and Saudi Arabia if Anything has been Pressed into the mind of Americans today Is we’ve got to produce energy and sure We want to have a diversity of energy Sources in Arkansas uh you know we’re Doing what many states are doing but We’re going to be having uh electric Charging stations we’re investing in That all across the state so that and We’ve recruited an electric vehicle Manufacturing facility in Northwest Arkansas so these are all part of it I Have the Council on future Mobility Looking at the alternative ways of Transportation and delivery of goods From electric vehicles to drone delivery To Automation and so all of that is Protecting the supply chain but is also Being sensitive to Our environmental issues at the same Time Governor ASA Hutchinson Republican from Arkansas at today’s program hosted by The Woodrow Wilson International Center For Scholars we covered it and you can Find the full video at our website at C-span.org political Playbook reports That outgoing Governor Hutchinson is Working to increase his National profile As he is a potential 2024 presidential Run after visiting Iowa twice in September he heads back in a couple of Weeks and is scheduled to speak at the

West Side conservative Club in Des Moines on November 16th Washington day Continues in a moment there are a lot of Places to get political information But only at C-SPAN do you get it Straight from the source no matter where You’re from or where you stand on the Issues C-SPAN is America’s Network Unfiltered unbiased word for word if it Happens here or here or here or anywhere That matters America is watching on C-Span powered by cable Welcome back to Washington today Available as a podcast wherever you get Your podcast and on the C-SPAN Now video App The bite Administration reacting to North Korea is firing more than 20 Ballistic missiles overnight including One that landed south of a buffer zone In the maritime border between North and South Korea first time that’s happened Since the Korean Peninsula was divided 75 years ago South Korea responding by Firing three air to surface missiles Generally towards the north NBC News Writes that hours before filing firing Its first missiles North Korea Threatened the United States and South Korea over resuming joint military Exercises this week the north considers A rehearsal for Invasion a statement From an official close to Kim Jong-un The leader suggesting that if North

Korea were attacked he could use nuclear Weapons to make the two countries pay The most horrible price in history the US and South Korea say the drills which Returned this year after being scaled Down or halted during the Trump Administration are defensive in nature And that they have no intention of Attacking the north that from NBC News Here’s the question to the U.S state Department spokesperson Ned price Um there’s obviously an unprecedented Barrage of missiles overnight Um I’m just wondering what sort of Leeway what sort of Leverage America has In terms of Going forward with North Korea whether There’s any possibility of a slight Change in U.S policy whether the chance This might come up at the G20 meetings In Asia this month uh just wondering What what more the U.S can do given Given obviously North Korea’s escalating What it’s doing in response to U.S Drills in the region so let me start by Saying that uh and you’ve heard this From us before but we condemn the dprk’s Ballistic missile launches and its Reckless decision to fire a missile Below the de facto Maritime boundary With the Republic of Korea these Launches were in violation of multiple U.N security Council resolutions Unanimously adopted by the council and

They threaten peace and stability in the Region we continue to seek serious and Sustained dialogue with the dprk but as We’ve made no secret of the dprk has Refused to engage our commitment to the Defense of the Republic of Korea and Japan it remains absolutely Ironclad and Will continue to work closely with our With our allies and partners to limit The Norse ability to advance its Unlawful weapons program to threaten Regional stability shortly after news of These launches broke last night Secretary blinken spoke to his South Korean counterpart the call took place Very late last night eastern time They the two ministers jointly condemned And expressed deep concern about the Dprk’s escalatory launches including one That as I mentioned before recklessly And dangerously landed near the ROK Coastline the secretary took advantage Of that conversation to reaffirm for his Counterpart foreign minister Puck the Ironclad commitment to the rok’s Security and its safety and he stressed The need for the International Community To unite in holding the dprk accountable For its continued provocations to that Point Uh the secretary we expect will have an Opportunity to travel to the region Later this month as you know the President is attending the Summits later

This month the secretary will um Accompany him and we’ll have an Opportunity to discuss the north the Threat that the dprk poses the Instability and the instability it’s Engendering with the region will Continue to be in close contact with our ROK allies with our Japanese allies as Well we’ll do that bilaterally but I Think you’ll also be able to see that See us continue doing that trilaterally As well State Department spokesperson Ned price With reporters today in the briefing Room the White House also saying today That North Korea is secretly trying to Supply Russia with a significant number Of artillery shells that Russia can use In its war against Ukraine the National Security Council spokesperson John Kirby Telling reporters that North Korea was Trying to send the artillery shells Through countries in the Middle East and North Africa to disguise the shipments President of Turkey saying today that Russia will rejoin the agreement that Guarantees safe Corridor for ships and Grain leaving Ukrainian ports the deal Was initially put together by turkey and The United Nations Russia in recent days Had said it was pulling out because of Ukrainian attacks on Russian military Ships in the Black Sea Back to Ned price at the state

Department on this On Russia Ukraine if I may uh Russia is Back to the grain deal but Putin today Said he can’t leave it again how to uh Secure the deal moving forward so this Doesn’t happen again and secondly we Can’t just pretend that you know last Three days didn’t happen it did already Affect millions of people so the food Prices have gone up uh how to hold Russia account before For the last three days as well so that It doesn’t repeat what you just did well First and foremost we welcome the fact That through Dent of efforts by the U.N Secretary General uh by our Turkish Allies as well that the Black Sea grain Initiative will resume it will resume With ships Um according to the to the U.N Transiting the Black Sea uh again later This week This is something that we’ve spoken to Uh the utility of it over the past Couple days uh it is uh Our Hope and I Guess the the saying is true that you Don’t fully recognize the value of Something until it’s at risk or gone uh And perhaps the world over the past Couple days uh has taken note uh even More so of uh the value of the Importance of the indispensability and I Don’t think that is oversating it the Indispensability of this particular

Mechanism it is responsible for some 420 Vessels setting sail from Ukrainian Black Sea ports since it went to effects On August 1st it’s responsible for 9.8 Million nearly 10 million metric tons of Grain the vast majority of which Two-thirds has gone to the developing World nearly one-fifth of that and Nearly one-fifth of it has gone to the World’s least developed countries so if This has caused the world to recognize The value of this initiative perhaps That is although unintended A a welcome side effect of what has Happened but what is most important to Us is that this deal gets back on track Of course the Russians are speaking to Resuming the deal this week we also know That the deal comes up for Renewal later This month even before the statements That emanated from Russia this weekend We were focused on efforts to renew this Grain deal This is not something that’s quite Literally the world can live without in The short period where this grain deal Has been in doubt over the past couple Days we’ve seen grain prices rise we’ve Seen shippers and insurers uh question Um call into question the viability of Their operations in this region it’s our Goal to see to it that there is Predictability that there is stability In this Marketplace and by setting this

Initiative back on track by working and Supporting the Turks in the U.N and the Other parties to see that this Initiative is not only set back in Motion but it’s renewed later this month That will ultimately inject even more Predictability and stability into this Marketplace and most importantly apply Downward pressure to food prices U.S state Department spokesperson Ned Price in the state department briefing Room with reporters the United Press International has a story the Russian Defense Ministry said it received Written guarantees from Ukraine about Not using the humanitarian Corridor for Military use though through turkey and An international organization UPI also Notes before Russia’s Invasion Ukraine Played a key role in the world’s Food Markets applying around 45 million tons Of grain every year This from The Times of Israel as the Ballot in the knesset election were Being tallied Wednesday all signs were Pointing to a resounding victory for Opposition leader Benjamin Netanyahu and His block of right-wing far right and Religious parties a result that would End a political crisis that has seen Five general elections held in under Four years Benjamin Netanyahu served Twice as Israeli Prime Minister before 1996-99 and then

2009-21 a total of 15 years that’s a Record for Israel some early reaction to These election results from the White House Press Secretary Karine Jean-Pierre Comment on the election in Israel and The who appears to be a better Particularly yet don’t want to get ahead Of ahead of that we are pleased to see Such strong voter turnout for this Election it is too early to to speculate As you know on the exact composition of The next governing Coalition until all The votes are counted I know we’ve all Seen the exit polls we look forward to Continuing to work with the Israeli Government on our shared interest and Value so I’ll leave it there the White House Press Secretary Kareem John Pierre There’s a story from axias the Bible Administration is unlikely to engage With Jewish supremacist politician Itamara Ben gavier who was expected to Be a senior minister in a future Israeli Government Forum by Benjamin Netanyahu Two U.S officials told axias the article Continues no official decision has been Made yet but if the bite Administration Does boycott bengavere it would mark an Unprecedented development that would Likely have negative consequences for The U.S Israeli relationship Israel’s Extreme right parties have saw Unprecedented success in Tuesday’s Election with the Jewish supremacist

Religious Zionism list set to win 14 Seats the highest number of seats for Radical right in the history of Israel That from axis that party religious Zionism is led by idmar bengavir and he Celebrated his victory Tuesday night Is about time That is our children boys and girls will Be able to walk safely in the streets It’s about time that the soldiers of the IDF and the policemen will get support And backing [Applause] It’s about time It’s about time That we go back To be the owners of this country Winning member of the Israeli Parliament Itamara bengalier who leads the Religious Zionism party that audio from I-24 news more from the axis article Ben Geer who was convicted in 2007 of Supporting a terror organization and Inciting racism said he wants to be the Minister of internal security a post That would put him in charge of the Israeli police and policies around Jerusalem’s holy sites including the Al-askum mosque compound The British prime minister Rishi sunak Now two weeks into his tenure getting Questions today about immigration policy From opposition leader Kier starmer During prime minister’s question time in

The House of Commons in London BBC news Reports that the British Home Secretary Suela Braverman said this week that the British Asylum system is broken and Immigration is out of control and an Invasion is happening on the south coast Here’s Kira starmer questioning the Prime minister [Music] Prime minister Mr Speaker we do need we do need Mr Speaker not enough is the answer very Straightforwardly no And that’s what we’re going to fix but But the Only The Honorable gentleman Raises this question what are we doing We’ve increased the number of processing Officials by 80 percent we are putting An extra 500 more by next march but if He really if he really was serious about Fixing this problem then he would Acknowledge that we do need to tackle The issue of people putting spurious Furious claims spurious repeated last Minute claims to frustrate the process That’s How we’ll tackle the system so Why then did he vote against the Nationality and borders act which deals With yeah Mr Speaker he says he says not enough You could say that again Four percent four percent of people Arriving in small boats last year had Their Asylum claim processed according

To the bookies the Home Secretary has a Better chance of becoming the next Tory Leader than she has a processing and Asylum claim in a year [Laughter] And he talks about numbers they’re only Taking half the number of Asylum Decisions that they’re used to that’s Why the system is broken Four thousand people at the manston Air Force Base massively overcrowded all Sorts of diseases breaking out so did The Home Secretary receive legal advice That she should move people out yes or No prime minister Mr Speaker that the right honorable Gentleman it’s very fond of reminding us That he used to be the former director Of public prosecutions so he knows the Government’s policy on commenting on Legal advice but what I can say is a Significant action that the Home Secretary has taken to fix the issue Since September 30 more hotels with four And a half thousand new beds appointing A senior General to control the Situation at manston and indeed Increasing the number of staff there by Almost a half Mr Speaker these are Significant steps to demonstrate that we Are getting a grip of this system but This is a serious and escalating problem We will make sure that we control our Borders and we will always do it fairly

And compassionately because that’s the Right thing Rishi sunak is the British prime Minister he leads the majority Conservative party Getting questions from the opposition Leader Kier starmer of the labor party During prime minister’s question time in The House of Commons in London today More from the BBC News article on the Exchange earlier this year the Government announced plans to send some Asylum Seekers to Rwanda where they Could claim Refuge ministers argue that This would reduce the numbers crossing The English Channel but the policy has Been held up by legal challenges almost 40 000 people have crossed the channel In small boats so far in 2022 the Highest number since figures began to be Collected in 2018. A milestone for U.S senator Dianne Feinstein Democrat from California today Becoming the longest serving female Senator in U.S history passing the Previous record holder Barbara mikulski A Democrat from Maryland who served from 1987 through 2017. Dianne Feinstein was First elected in 1992 and in June of That year after she won the Democratic Primary for the U.S Senate C-SPAN Covered a news conference she was Standing beside Barbara Boxer who had Just won the Democratic primary for the

Other U.S Senate seat from California That was up that year I think the message of the election of Both Barbara and myself is really that The status quo must go and that secondly The myth that women can’t play in the Big leagues is perhaps pierced once and For all Merv field the distinguished California Pollster had a statement in the front Page of this morning’s Chronicle which Said women are sweeping today but not in The traditional sense And to to everyone who has swept today All of the women that are here and those That aren’t I just want to say Congratulations now where there is Historic Precedent there is also historic Opportunity and the question really is Whether we can utilize this opportunity For something that is far more Meaningful to people than just Partisanship Dianne Feinstein in June 1992 after she Won the Primary first run for U.S Senate She went on went on to win the election That November and has served in the U.S Senate ever since today becoming the Longest serving U.S senator in history For 30 years she put out a statement Thanking the women who led the way Particularly the woman who she just Passed former U.S senator Barbara

Mikulski Feinstein also saying in the Statement it’s been a great pleasure to Watch more and more women Walk The Halls Of the Senate we went from two women Senators when I ran for office in 1992 To 24 today and I know that number will Keep climbing Thanks for listening to Washington today Sign up for c-span’s newsletter word for Word to get the stories Washington is Talking about sent to your inbox every Day you can subscribe at C Hyphenspan.org forward slash connect Have a good night [Music]

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